trending Market Intelligence /marketintelligence/en/news-insights/trending/AlqCigkTSxnrDwOWpMvy7Q2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Report: Santander injects €335M into new real estate developer

Blog

What’s on the Horizon for the Cruise, Hotel & Resorts Sector?

Blog

Banking Essentials Newsletter - February Edition, Part 2

Podcasts

StreetTalk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally

Blog

Street Talk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally


Report: Santander injects €335M into new real estate developer

Banco Santander SA has injected €335 million into new real estate development company Landmark, which was created in 2019 to develop the land the Spanish lender has on its books, El Economista reported.

The unit has land valued at €1.62 billion net, when taking provisions into account, the paper said.

Santander may also spin off part of the company to clean up its balance sheet, according to the Jan. 8 report.

Spanish banks were left with a large amount of real estate debt following Spain's real estate boom and bust in the 2000s.